Performance

pensionpartners Inflation Rotation Fund Performance

Average Annual Total Returns as of Month Ending:

3 Month Year to Date 1 Year Since Inception* Annualized Since Inception* Cumulative
pensionpartners Inflation Rotation Fund -2.54 6.35% -3.28% 4.51% 14.02%

Average Annual Total Returns as of Quarter Ending:

3 Month Year to Date 1 Year Since Inception* Annualized Since Inception* Cumulative
pensionpartners Inflation Rotation Fund -4.68% 4.06% -8.56% 3.98% 11.57%

*The pensionpartners Inflation Rotation Fund inception date is 9-10-12.

Gross Expense Ratio: 2.17%
Net Expense Ratio*: 2.14%

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Fund performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained by calling 1-855-pensionpartnersFUND. The fund imposes a 2.00% redemption fee on shares held less than 90 days, and if reflected, the fee would reduce the performance shown.

*The Advisor has contractually agreed to reimburse the Fund for its operating expenses through December 31, 2015. In addition, the fund has an Expense Cap in place where the Advisor may reduce its management fees, in order to ensure that Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, brokerage commissions, interest, taxes and extraordinary expenses) do not exceed 1.74% of the average daily net assets of the Fund through December 31, 2015.